BANK PAYOUTS

Banks trade their customers’ mortgages with other banks internationally. The sale of thousands of mortgages was tracked from many European countries to many states of the USA and back to more European banks. To stop borrowers from benefiting from the sale of their debt, but to make sure they keep making payments, the holds banks have over properties are relinquished to trusts. But land registries, borrowers, and courts are not informed. All mortgages before 2008 were part of this scandal which compounded the financial crash. But around 80% of mortgages are still part of this worldwide.

The Bank of England published the UK Government creates 3% of its economy’s money. Banks create 97% with debt. In the first quarter of 2022 global debt totalled $305 trillion. Non-financial corporations and households were responsible for 60%. But if 80% of this is exploited unlawfully, then this accounts for over $146 trillion compounding the next world recession.

Elephant in the room

Generally, criminal courts in most countries use evidence in affidavits from first-hand witnesses so that lies cannot be used. But civil courts use hearsay in witness statements signed by third-party solicitors. Who haven’t witnessed anything. This is now being challenged in England’s high court.

The game is up

Borrowers are now using subject access requests and affidavits against their banks. Courts are preventing properties from being repossessed this way. Businesses are being created to exploit banks that are doing this. Saving mortgage payments, homeowners are also claiming an average of £110k back from their banks.

Example of banks’ fraud

Bank trusts will not change the land registry because this would display the direct relationship between the borrower and trusts. It would risk borrowers claiming the trusts’ profits from trade. The bank would risk income from mortgage payments. It would make them liable for stamp duty and take away their only method to legitimise possession.

Page 7 of Santander’s Fosse Master Trust prospectus (page 29 of pdf) states, “Santander UK, who, as the sponsor, will organise and initiate each transaction under the programme, has no ownership interest in any of the entities in the diagrams above.” Helping banks trade in limbo, a secondary requirement is the wording of its prospectus to remedy how banks have problems enforcing payments and possession. Page 27 of Santander’s Fosse Master Trust prospectus (page 49 of pdf) states, “The mortgages trustee has the right to demand that the seller give it legal title to the loans and the related security…” And, “Until then the mortgages trustee will not apply to the Land Registry or the Central Land Charges Registry to register or record its equitable interest in the English mortgages,”.

Reference information

Landmark legal case in England 2012. This entity applied to repossess a home because its name was on the land registry. But this proved insufficient because they had already traded their ownership –
https://www.bailii.org/ew/cases/EWCA/Civ/2012/1376.html

Podcast explaining the unlawful trade of mortgages

Banks trade mortgages on global stock markets –
https://etfdb.com/etfdb-category/mortgage-backed-securities/

The banking industry is the world’s most undisputed corrupt industry –
https://www.globalwitness.org/en/campaigns/corruption-and-money-laundering/banks/
and
https://www.theguardian.com/news/2022/feb/20/credit-suisse-secrets-leak-unmasks-criminals-fraudsters-corrupt-politicians

Tracking such trade –
https://find-and-update.company-information.service.gov.uk/company/05925693/charges

Example from the UK Companies House of mortgages being sold –
https://globalsafetywatch.org/downloads/alliance-and-leicester-sale-of-all-loans.pdf

Evidence of how this compounded the financial crash in 2008 –
https://positivemoney.org/issues/recessions-crisis/

Information that banks sell around 80% of their customer’s mortgages, and the typical amount of each claim –
https://securitisedmortgages.co.uk/

Memorandum from Carmel Butler of debt exploited unlawfully – https://publications.parliament.uk/pa/cm200809/cmselect/cmtreasy/144/144w273.htm

Businesses exploiting banks that do this –
https://www.youandyourcash.com/mscinfo

Publicly available online systems used to uncover this –
https://www.sec.gov/edgar/search-and-access

Governments create 3% of economies’ money –
https://www.bankofengland.co.uk/knowledgebank/how-is-money-created

60% of global debt is non-financial corporations and households –
https://www.imf.org/en/Blogs/Articles/2022/04/11/blog041122-dangerous-global-debt-burden-requires-decisive-cooperation

How recessions are expected around every 10 years –
https://cepr.org/publications/dp14397

Worsening global news is all linked –
https://www.weforum.org/agenda/2020/04/climate-change-coronavirus-linked/

Affidavits starting to be use in some countries –
https://globalsafetywatch.org/downloads/st3-3-practice-direction-2-of-2018-belfast-high-court.pdf

Banks falsifying evidence –
https://globalsafetywatch.org/downloads/santander-v-carlin-and-hughes-2013.pdf